The toolkit available for DAOs is expanding rapidly and it can be overwhelming to determine where to start. As a first stop, we recommend defining the phases of your organization’s work. We had 4 initial phases of work when starting on CabinDAO:Phase 1: Recruiting the communityPhase 2: Securing initial fundsPhase 3: Communicating with membersPhase... See more

What will be the anchor exchange rate with Ethereum?

How do we reliably and effectively community and mobilize the DAO membership?How do we get work done collaboratively?How do we broaden our reach and connect with more people interested in our mission?How do we support delegation of votes (if needed) in the future?

In our case, CabinDAO assigned 3 executive signatories to the Gnosis Safe account, with a requirement that 2 out of 3 signatories were required for any fund transaction. Each signatory had an individual wallet (Metamask) used to confirm the transaction. 

PHASE 1: Recruit the Community

One common misconception is that DAOs are purely flat hierarchical organizations. This usually isn’t the case. The founders or a few selected individuals are chosen or elected as guardians of the treasury. Over time, DAOs can progressively decentralize into more truly trustless structures.

Funding the organization and creating an engaged community requires broad reach to the right audience. We recommend doing this by clearly defining (and publishing!) your narrative, story, and mission in public and at the right time.

We chose Gnosis Safe as our crypto-native treasury platform. Gnosis provided two critical features: The ability to have each distribution of funds approved by multiple team members (a.k.a. Multi-signature), and a central location to preserve a mixture of funds: Ether and the social token.

For any crowdfund, you will need to make specific choices related to the token supply. We recommend talking through these questions with your founders:What will be the total initial supply?Will it be fixed? (e.g. will future token creation be restricted)